NSDL IPO GMP surges ahead of issue launch on July 30; check price band, issue size, other key details

NSDL IPO GMP surges ahead of issue launch on July 30.

NSDL IPO GMP has surged ahead of its initial public offering (IPO) which is set to open on July 30 this week, reflecting strong investor interest in the company’s public issue.

According to platforms tracking the grey market activities, the grey market premium of National Securities Depository Ltd (NSDL) has moved up to the range of Rs 135–137, indicating an expected listing gain of up to 20 percent over the issue price.

NSDL has fixed the price band at Rs 760–800 per equity share for its Rs 4,011-crore IPO, which will open for public subscription from July 30 to August 1. The bidding for anchor investors will open on July 29.

At the upper end of the price band, the IPO is expected to fetch Rs 4,011 crore, valuing the company at approximately Rs 16,000 crore.

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The IPO is entirely an Offer For Sale (OFS) of 5.01 crore shares. Shareholders selling their stake include the National Stock Exchange of India (NSE), State Bank of India (SBI), HDFC Bank, IDBI Bank, Union Bank of India, and the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI). Since the issue is an OFS, NSDL will not receive any proceeds.

NSDL IPO to open next week for subscription; IPO dates, size among 10 key things to know

Following the IPO, NSDL will become the second depository to be listed on Indian stock exchanges after Central Depository Services (CDSL), which went public in 2017.

The issue has been structured with 50 percent of the shares reserved for qualified institutional buyers (QIBs), 35 percent for retail investors, and the remaining 15 percent for non-institutional investors.

Investors can apply for a minimum of 18 shares and in multiples thereafter. The minimum investment amount for one lot is Rs 14,400.

NSDL IPO allotment of shares is expected to take place on August 4, with listing scheduled for August 6.

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